Indian founder of $1.2 billion startup says bank rejected home loan application: ‘Just because I am a founder’

Pravin Jadhav, founder and CEO of Raise Financial Services, revealed his home loan application was rejected by a top private bank because he is a founder.

Raise Financial Services, parent of stock trading platform Dhan, is valued at $1.2 billion and became a unicorn after a $120 million Series B round led by Hornbill Capital in October 2025.

Jadhav noted he had been a bank customer for over 25 years, with 5-6x the loan value in relationship assets and a CIBIL score above 800.

The bank had previously felicitated Jadhav as a top fintech innovator, yet classified entrepreneurs as high-risk borrowers for home loans.